Harman On Newsweek: ‘National Treasure’; ‘Business Challenge’; Meacham Out

Following the pre-announcement word earlier, now it’s official: The Washington Post Company (NYSE: WPO) sent out the official release confirming that after 50 years of running it, the company has sold Newsweek to Dr. Sidney Harman, the founder and Chairman Emeritus of audio and electronics company Harman International.

In its article about the sale, Newsweek.com reports that Jon Meacham will step down as editor-in-chief of the magazine as part of the transition to its new owner. He’s gone after four years in the job once the deal closes either at the end of this month or in early September.

In a statement printed on the magazine’s website, Meacham said,